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Do Stay at Home Mom’s Need Life Insurance? | Naples Insurance Agency | Fort Myers Insurance Agency

Dec, 05
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insuranceWhile many would look at a nuclear family based household and automatically say that dad is the breadwinner. He is the one who should be insured just in case something should happen. But what if something were to happen to mom?

What is mom’s actual value?

According to salary.com in their 2016 “Mom Salary” survey today’s stay-at-home mom is worth approximately $143,102 per year. This number is arrived at by considering hours worked added to the amount of comparable compensation of those holding similar jobs. These included roles encompass – janitor, taxi driver, accountant, academic advisor, nutritionist, and at least two dozen other official job titles. Mom’s work on average 92 hours per week.

Trying to replace all of those roles is virtually impossible. The task would be made even more impossible if there was no money to do so. Childcare alone is estimated to cost $15.85 per hour in an attempt to hire a nanny or someone to replace her role in the home. That’s $34,000 a year for just childcare. If you need additionally to hire a housekeeper expect that number to rise.

Life insurance settlements replace income. This is important whether the mother works inside the home or outside. Never underestimate the value of a mother. Emotionally or income wise.

If your family has a stay at home mother, now is the time to consider taking out a life insurance policy. It is your families future at stake. Protect it by talking to one of the advisors at Centennial Insurance Services. Call today 239-247-5215 or visit us online www.cisinsfl.com.

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